Cramer Quick Take: Hess Could See $70

NEW YORK (TheStreet) -- Business have been good at Hess (HES) , Jim Cramer told Debra Borchardt at TheStreet.com Monday, but that hasn't stopped shares from being chronically undervalued.

Cramer said Hess, like many of the big oil names, has been making a lot of changes in itsbusiness in response to America's oil boom, and that includes shedding low-margin businesses as well as assets that are simply in the wrong areas of the country.